Less economic impact for 30% emissions reduction

The European commission believes that a commitment to reduce CO2 emissions by 30% by 2020 is as achievable as the original target of 20% and will have a much smaller economic impact than previously thought. The commissioner of Climate Action, Connie Hedegaard, explained that new calculations put the estimated cost of reaching the 20% target at 48,000 million euros a year as compared to the initial estimate of 70,000 million euros a year.